Spain’s startup scene has been in pure rocket-mode for the past few years. Home to flourishing success stories like unicorns Glovo and Cabify, the country offers a good quality of life and affordable cost of living, a lively mix of local talent and international workers, and a bridge to Latin American markets. Not to mention the beautiful weather and good food.
Madrid and Barcelona, as two of Spain’s biggest cities, are not only the two of the fastest growing startup scenes in the country, but also in Europe as a whole. According to our annual ranking, Barcelona is the 5th and Madrid the 7th biggest startup hub in Eurpe. There is a healthy competition between the two, which no doubt spurs on innovation in each region. Beyond these two hubs, coastal city Valencia also deserves a mention, as well as the Basque region and Andalucía being particular hot beds for innovation.
Now in 2021, the Spanish government is about to launch a new ‘startup law’ to bring more favourable conditions to its young companies. Set to launch in a few weeks, Spain’s emtrepreneurs are waiting with baited breath to take advantage of the administrative facilities and investment incentives included.
With so many promising Spanish startups on the horizon, it was hard to select just 10 for this article. We scanned the horizon for young startups founded between 2017-2020, with fast-growing teams, having landed funding or showing promising signs in the past few months, among others. Having completed an in-depth analysis, these are the startups we’ll be watching in 2021:
Payflow – Founded in 2020, this young Barcelona-based fintech startup is already growing fast, with a team of almost 40. Their mission? To allow employees to instantly access earned wages through a mobile app. Their reasoning is that employees work daily and spend daily, so why shouldn’t they have access to their wages more regularly than monthly? Despite being launched only last year, the team landed funding in both 2020 and 2021, totalling a not-too-shabby €3.6 million.
Cobee – Madrid-based Cobee has created an online platform that automates and simplifies employee benefits management. By eliminating intermediaries and external suppliers, it’s more efficient and cost effective for employers. Plus, the flexibility of their solution allows employees to access and manage their benefits and bonuses via the app. Having closed a few funding rounds already, their last was in February 2020, hitting around €2.1 million.
Kubbo – Home deliveries have soared this year and Kubbo was already ahead of the curve. Founded in 2019, this Barcelona-based startup helps companies provide the best same-day delivery service to their customers. Via its B2B e-commerce platform, users get access to tailor-made fulfillment, real-time tracking, and dedicated support. The startup landed €266K funding in 2020, and just secured another round of €1 million in 2021.
Katoo – Madrid-based Katoo, which was founded in 2019, provides food procurement tools for restaurants and suppliers, which overall save time and reduce misunderstandings. Already used by 1000+ restaurants, around 5 hours is saved every week by using Katoo’s tools. In 2020 the young company landed around €3 million seed funding, to connect and empower the food supply chain even further.
Playtomic – As Europe’s largest racket sports booking app, Platomic already caught our eye last year. Included in our list of 10 Madrid-based startups to watch out for in 2020 and beyond, we interviewed co-CEO and co-founder Pedro Clavería about their presence in 20+ countries and 2000+ sports venues. Over the last year, this startup has closed two funding rounds and also acquired two other SportsTech startups, even throughout the pandemic.
Bipi – This innovative car subscription startup offers consumers a hassle-free alternative to car ownership. Founded in 2017 in Madrid, the Bipi team provides a 100% online monthly subscription service, offering fully-flexible, all-inclusive use of quality new and used cars. The Spanish mobility startup already closed a seed, Series A and finally a Series B funding round in 2020, landing around €19.5 million in total.
Mediquo – This 24-hour, 7-day-a-week medical chat application was founded in Barcelona in 2017. Now a leading ‘eHealth’ app in Spain and Latin America, they bill themselves as a ‘a hospital in your pocket’, connecting you with professionals for any health interaction. Their mission? To reduce the 75% of unnecessary medical visits that could be managed from a distance. In 2020, they closed €2 million to launch their new PRO medical appointments app.
Bdeo – This insuretech startup has created a visual intelligence solution designed to change the way customers connect with insurance companies. Founded in 2017 in Madrid, its platform enhances the customer journey (from processing a claim, to providing assessments in real-time), allowing insurance companies to detect fraud or pay customers in the event a claim is approved. In 2020, the team landed €5 million to become leaders in visual intelligence in the insurance sector by 2022.
Landbot – Barcelona-based Landbot (founded in 2017) has created a no-code and intuitive ‘chat bot builder’, which helps companies of any size create conversational experiences. The result? Boosted customer engagement via human conversations, at scale. The fast-growing startup secured a Series A round of around €6.5 million in 2021, which will help them to continue turning chatbot building ‘into a game of LEGO’.
Amentiz – Barcelona-based Amentiz offers an all-in-one platform for the hospitality industry, which helps owners grow and manage their vacation properties. How does it do this? By attracting guests, managing bookings and crafting exceptional experiences. Founded in 2017, the startup landed a €200K funding round in March 2020 to ensure more property owners make a good impression online.
By the way: If you’re a corporate or investor looking for exciting startups in a specific market for a potential investment or acquisition, check out our Startup Sourcing Service!